September 1, 2011
Productivity Down In Q2
Nonfarm business productivity fell at a 0.7 percent annual rate over the second quarter of 2011, according to a revised report released by the Bureau of Labor Statistics.
The change is based on a 1.3 percent increase in output and a 2 percent rise in hours worked in annualized, seasonally adjusted terms.
Manufacturing sector productivity fell 1.5 percent, while output rose 1.2 percent and hours worked jumped 2.7 percent.
A preliminary BLS report on productivity for the quarter put the decline at 0.3 percent. The new numbers reflect a smaller increase in output than previously reported.
Year over year, productivity increased 0.7 percent, while manufacturing productivity rose 2.4 percent.
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